Agora (NASDAQ:API) Issues Quarterly Earnings Results

Agora (NASDAQ:API) posted its earnings results on Tuesday. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.18, Zacks reports. Agora had a return on equity of 1.68% and a net margin of 6.75%.

Agora Stock Up 3.6%

Shares of API stock traded up $0.13 during trading hours on Tuesday, reaching $3.77. 1,044,762 shares of the company’s stock were exchanged, compared to its average volume of 401,628. Agora has a 1 year low of $3.14 and a 1 year high of $5.15. The stock has a market cap of $329.20 million, a PE ratio of 41.89 and a beta of 0.73. The company has a current ratio of 4.58, a quick ratio of 4.58 and a debt-to-equity ratio of 0.14. The stock’s fifty day moving average price is $3.73 and its two-hundred day moving average price is $3.97.

Analysts Set New Price Targets

API has been the topic of several research analyst reports. Zacks Research downgraded Agora from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Wall Street Zen upgraded Agora from a “hold” rating to a “buy” rating in a research note on Saturday, April 4th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Agora

A number of large investors have recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey purchased a new stake in Agora in the fourth quarter valued at approximately $85,000. New York State Common Retirement Fund boosted its position in Agora by 78.6% in the fourth quarter. New York State Common Retirement Fund now owns 27,223 shares of the company’s stock valued at $111,000 after buying an additional 11,980 shares during the last quarter. Finally, Marshall Wace LLP boosted its position in Agora by 213.0% in the second quarter. Marshall Wace LLP now owns 460,210 shares of the company’s stock valued at $1,753,000 after buying an additional 313,175 shares during the last quarter. Hedge funds and other institutional investors own 40.40% of the company’s stock.

Agora Company Profile

Agora, Inc operates a Real-Time Engagement (RTE) platform that enables developers to embed voice, video and interactive broadcasting capabilities into mobile and web applications. By providing a suite of software development kits (SDKs) and application programming interfaces (APIs), the company delivers low-latency audio and video streaming, real-time messaging and live interactive streaming services. Its platform is designed to support high-quality interactions across various network environments, making it suitable for use cases in social media, online gaming, distance learning, telehealth and enterprise communication.

The company’s core offerings include voice and video calling SDKs, interactive broadcast SDKs for one-to-many streaming, real-time messaging services and data stream APIs for synchronized data exchange.